A combined set of operational budgets and a set of financial budgets for the entire organization is known as a
A)master budget.
B)flexible budget.
C)month-to-month budget.
D)constant budget.

Question

Quizplus · Accepted Answer

A master budget is a comprehensive financial plan that incorporates both operational and financial budgets for an entire organization. It typically includes all of the budgets necessary for a business to plan and manage its operations for a specific period, such as a year. This allows the organization to have a complete view of its financial situation and make informed decisions about resource allocation, capital investments, and overall performance. Flexible budgets are generally used to adjust for changes in actual results compared to budgeted amounts, while month-to-month budgets and constant budgets are more specific types of budgets that might be used to manage specific aspects of operations.

A Combined Set of Operational Budgets and a Set of Financial